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Hiscox profits down a third but combined ratio stays below 90%
Hiscox booked a 34 percent slide in pre-tax profits to £211mn in 2010, but limited the widening of its sub-90 percent combined ratio to 3 points despite a heavier loss experience.
28 February 2011
D&F market faces $5bn Chile loss
The direct and facultative (D&F) market can expect to pay the lion's share of losses from last February's Chile earthquake, with a 60 percent share of total reinsured losses of $8.5bn, according to Aon Benfield.
28 February 2011
Fears grow of Cote d’Ivoire cocoa losses
The London market has become increasingly nervous about the prospect of political risk losses from the civil disorder that has taken hold in Cote d'Ivoire since its presidential election last year.
28 February 2011
Libya unlikely to be significant London market loss
London's losses from the ongoing political unrest in Libya are likely to be relatively modest as the country's oil industry is dominated by the majors that tend to self insure, The Insurance Insider understands.
28 February 2011
NZ quake threatens Rugby World Cup contingency loss
The earthquake in New Zealand last week could be a sizeable loss for the London contingency market if organisers are unable to get Christchurch ready in time for the Rugby World Cup (RWC).
28 February 2011
Gallagher confirms Woodbrook MGA takeover
Arthur J Gallagher International confirmed last week that it had acquired Woodbrook Underwriting Agencies, after The Insurance Insider revealed that the deal was poised to go through.
28 February 2011
Chartis downgraded by S&P on deteriorating operating performance
American International Group (AIG)'s P&C arm Chartis Group has lost its Standard & Poor's (S&P) A+ rating after being downgraded because of deteriorating operating performance
28 February 2011
Berkshire Hathaway earns $17bn from (re)insurance underwriting in eight years
Berkshire Hathaway has revealed it has now earned $17bn in pure underwriting profits over the past eight years as full-year earnings beat the Wall Street consensus.
28 February 2011
Broker trio put off Lloyd’s ambitions
BMS, Cooper Gay and JLT have all abandoned bids to establish underwriting entities at Lloyd's in 2011 after being discouraged by the Franchise Board, The Insurance Insider can reveal.
28 February 2011
Royal Palm future secured with sale to Tower Hill
The future of Florida's Royal Palm Insurance Company has been secured with its sale to an affiliate of Tower Hill Insurance Group, in a deal first revealed by The Insurance Insider.
28 February 2011
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